1. Tax euphoria: Wall Street is seriously pumped about the tax plan making its way through Congress.

That's because there's no guarantee companies would use their savings from lower corporate tax rates and repatriated foreign profits to create jobs. In fact, few CEOs have publicly made any such promise.

But Wall Street can cash in, even if Main Street doesn't.

Markets are betting that companies would use their new spare cash to help investors: by purchasing boatloads of stock and beefing up their dividends. Both outcomes can help propel the soaring stock market to new heights, even if jobs and wages don't follow suit.

Investors love stock buybacks because they're less risky than investments in new projects that may or may not work. Even better, buybacks make earnings per share, a key measure of profitability, instantly look better simply by reducing the number of shares in the ratio. Underlying profits don't even need to improve.

During the last overseas tax holiday in 2004, companies leaned very heavily on buybacks. In fact, the Center on Budget and Policy Priorities later concluded that the 2004 tax holiday "did not produce the promised economic benefits" because companies mostly bought back stock instead of investing to grow their businesses.

Stock buybacks have been a centerpiece of the current bull market. S&P 500 companies have repurchased an incredible $3.8 trillion of stock since the end of March 2010, according to Silverblatt. This key source of market support has been slowing, but the tax bill would likely put CEOs under pressure to ramp it back up.

Silverblatt joked that the big winner from the GOP tax plan would be Home Depot because companies will have to "reinforce their boardroom doors" from all the shareholders screaming for buybacks.

We've had a good run. The economy has grown by roughly 1.7 million jobs so far in 2017. In October, 261,000 jobs were added -- making it the best month for job growth of the Trump administration. Unemployment fell to 4.1%, a 17-year low.

But wages continue to disappoint. Last month, they grew by just 2.4% compared to the same period last year, even lower than September's growth rate.